Machine Translation

Machine Translation


Global Machine Translation Market to Reach US$9.6 Billion by 2030

The global market for Machine Translation estimated at US$2.8 Billion in the year 2023, is expected to reach US$9.6 Billion by 2030, growing at a CAGR of 19.2% over the analysis period 2023-2030. SMT, one of the segments analyzed in the report, is expected to record a 20.3% CAGR and reach US$7.4 Billion by the end of the analysis period. Growth in the RBMT segment is estimated at 14.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$782.8 Million While China is Forecast to Grow at 18.2% CAGR

The Machine Translation market in the U.S. is estimated at US$782.8 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.4 Billion by the year 2030 trailing a CAGR of 18.2% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 16.9% and 16.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 13.9% CAGR.

Global Machine Translation Market - Key Trends & Drivers Summarized

How Is Machine Translation Revolutionizing Global Communication?

Machine translation (MT) has rapidly evolved into a cornerstone of global communication, enabling the real-time translation of text and speech across different languages. Leveraging advanced algorithms and vast linguistic databases, MT systems can process and translate content at a scale and speed unattainable by human translators. This technology is crucial in a world that is becoming increasingly interconnected, where businesses operate across borders, and digital content must be accessible to diverse linguistic audiences. From multinational corporations and e-commerce platforms to educational institutions and social media, machine translation is being adopted across various sectors to bridge language barriers, enhance customer experience, and streamline international operations.

What Technological Advancements Are Driving the Effectiveness of Machine Translation?

The effectiveness of machine translation has been significantly enhanced by recent technological advancements, particularly in the fields of artificial intelligence (AI) and natural language processing (NLP). The shift from traditional rule-based and statistical methods to neural machine translation (NMT) has marked a substantial improvement in translation quality. NMT models, which rely on deep learning algorithms, can understand and translate context more accurately, reducing common errors related to syntax and grammar. Moreover, advancements in AI enable these systems to learn from vast amounts of data, continually improving their accuracy and fluency. Additionally, the integration of machine translation with other AI-driven tools, such as voice recognition and automated transcription services, has broadened its applications, making it indispensable in multilingual communication.

What Challenges Does the Machine Translation Market Face?

Despite its advancements, the machine translation market faces several challenges that impact its widespread adoption and effectiveness. One of the primary challenges is the quality of translations, particularly for complex languages or specialized content that requires a deep understanding of context, idioms, and cultural nuances. While NMT has significantly improved translation accuracy, it still struggles with producing high-quality translations for languages with less digital representation and for content that involves intricate technical or legal terminology. Another challenge is data privacy and security, as sensitive information processed through machine translation platforms can be vulnerable to breaches. Moreover, there is the challenge of integrating MT systems with existing business workflows and content management systems, which can be complex and resource-intensive.

Growth in the Machine Translation Market Is Driven by Several Factors

The growth in the machine translation market is driven by several factors, including the increasing globalization of businesses, the rising demand for multilingual content, and ongoing technological advancements in AI and NLP. The need for real-time translation in sectors such as e-commerce, customer service, and media is a significant driver, as companies seek to engage with global audiences more effectively. Additionally, the proliferation of digital content and the expansion of online learning platforms have fueled the demand for accurate and accessible translations. Technological innovations, particularly the development of more sophisticated NMT models and the integration of MT with other AI-powered tools, are also key drivers, making machine translation more accurate, reliable, and versatile. As businesses and organizations continue to expand their global reach, the demand for efficient and high-quality machine translation solutions is expected to grow, solidifying its role as an essential tool in the digital age.

Select Competitors (Total 47 Featured) -
  • 2M Communications Pty Ltd. (dba 2M Language Services)
  • AISA Digital
  • AMTA
  • Appen Ltd.
  • Applanga
  • AppTek
  • Bureau Works
  • CaptionHub
  • Cellictica
  • Cloudwords, Inc.
Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.


I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Machine Translation – Global Key Competitors Percentage Market Share in 2024 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
Global Economic Update
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Globalization of Businesses Spurs Growth in Machine Translation Solutions
Growing Demand for Multilingual Communication Expands Addressable Market for Translation Tools
Advancements in Neural Networks Strengthen the Business Case for AI-based Machine Translation
Increase in Cross-border E-commerce Accelerates Demand for Real-time Translation
Rising Use of Cloud Computing Propels Growth of Cloud-based Translation Platforms
Expanding Application of Translation Tools in Customer Service Drives Adoption in Enterprises
Growing Need for Localized Content in Media & Entertainment Fuels Adoption of Machine Translation
Increasing Use of Machine Learning in Translation Engines Enhances Efficiency, Driving Growth
Advancements in Natural Language Processing (NLP) Technologies Spur Demand for Automated Translation
Rising Focus on Cost-efficiency Expands Market for Automated Translation Systems
Multinational Corporations Expansion Strengthens Demand for Scalable Translation Solutions
Increased Adoption of AI Assistants Drives the Need for Real-time Translation Capabilities
Surge in International Collaboration Tools Generates Demand for Seamless Translation Solutions
4. GLOBAL MARKET PERSPECTIVE
TABLE 1: World Recent Past, Current & Future Analysis for Automotive by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
TABLE 2: World 7-Year Perspective for Automotive by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 3: World Recent Past, Current & Future Analysis for Military & Defense by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
TABLE 4: World 7-Year Perspective for Military & Defense by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 5: World Recent Past, Current & Future Analysis for Electronics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
TABLE 6: World 7-Year Perspective for Electronics by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 7: World Recent Past, Current & Future Analysis for Healthcare by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
TABLE 8: World 7-Year Perspective for Healthcare by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 9: World Recent Past, Current & Future Analysis for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
TABLE 10: World 7-Year Perspective for Other End-Uses by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 11: World Machine Translation Market Analysis of Annual Sales in US$ Thousand for Years 2014 through 2030
TABLE 12: World Recent Past, Current & Future Analysis for Machine Translation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
TABLE 13: World 7-Year Perspective for Machine Translation by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2024 & 2030
TABLE 14: World Recent Past, Current & Future Analysis for SMT by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
TABLE 15: World 7-Year Perspective for SMT by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 16: World Recent Past, Current & Future Analysis for RBMT by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
TABLE 17: World 7-Year Perspective for RBMT by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 18: World Recent Past, Current & Future Analysis for Other Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
TABLE 19: World 7-Year Perspective for Other Types by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 20: World Recent Past, Current & Future Analysis for Information Technology by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
TABLE 21: World 7-Year Perspective for Information Technology by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
III. MARKET ANALYSIS
UNITED STATES
Machine Translation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
TABLE 22: USA Recent Past, Current & Future Analysis for Machine Translation by End-Use - Military & Defense, Information Technology, Electronics, Automotive, Healthcare and Other End-Uses - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 23: USA 7-Year Perspective for Machine Translation by End-Use - Percentage Breakdown of Value Sales for Military & Defense, Information Technology, Electronics, Automotive, Healthcare and Other End-Uses for the Years 2024 & 2030
TABLE 24: USA Recent Past, Current & Future Analysis for Machine Translation by Type - SMT, RBMT and Other Types - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 25: USA 7-Year Perspective for Machine Translation by Type - Percentage Breakdown of Value Sales for SMT, RBMT and Other Types for the Years 2024 & 2030
CANADA
TABLE 26: Canada Recent Past, Current & Future Analysis for Machine Translation by End-Use - Military & Defense, Information Technology, Electronics, Automotive, Healthcare and Other End-Uses - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 27: Canada 7-Year Perspective for Machine Translation by End-Use - Percentage Breakdown of Value Sales for Military & Defense, Information Technology, Electronics, Automotive, Healthcare and Other End-Uses for the Years 2024 & 2030
TABLE 28: Canada Recent Past, Current & Future Analysis for Machine Translation by Type - SMT, RBMT and Other Types - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 29: Canada 7-Year Perspective for Machine Translation by Type - Percentage Breakdown of Value Sales for SMT, RBMT and Other Types for the Years 2024 & 2030
JAPAN
Machine Translation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
TABLE 30: Japan Recent Past, Current & Future Analysis for Machine Translation by End-Use - Military & Defense, Information Technology, Electronics, Automotive, Healthcare and Other End-Uses - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 31: Japan 7-Year Perspective for Machine Translation by End-Use - Percentage Breakdown of Value Sales for Military & Defense, Information Technology, Electronics, Automotive, Healthcare and Other End-Uses for the Years 2024 & 2030
TABLE 32: Japan Recent Past, Current & Future Analysis for Machine Translation by Type - SMT, RBMT and Other Types - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 33: Japan 7-Year Perspective for Machine Translation by Type - Percentage Breakdown of Value Sales for SMT, RBMT and Other Types for the Years 2024 & 2030
CHINA
Machine Translation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
TABLE 34: China Recent Past, Current & Future Analysis for Machine Translation by End-Use - Military & Defense, Information Technology, Electronics, Automotive, Healthcare and Other End-Uses - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 35: China 7-Year Perspective for Machine Translation by End-Use - Percentage Breakdown of Value Sales for Military & Defense, Information Technology, Electronics, Automotive, Healthcare and Other End-Uses for the Years 2024 & 2030
TABLE 36: China Recent Past, Current & Future Analysis for Machine Translation by Type - SMT, RBMT and Other Types - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 37: China 7-Year Perspective for Machine Translation by Type - Percentage Breakdown of Value Sales for SMT, RBMT and Other Types for the Years 2024 & 2030
EUROPE
Machine Translation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
TABLE 38: Europe Recent Past, Current & Future Analysis for Machine Translation by End-Use - Military & Defense, Information Technology, Electronics, Automotive, Healthcare and Other End-Uses - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 39: Europe 7-Year Perspective for Machine Translation by End-Use - Percentage Breakdown of Value Sales for Military & Defense, Information Technology, Electronics, Automotive, Healthcare and Other End-Uses for the Years 2024 & 2030
TABLE 40: Europe Recent Past, Current & Future Analysis for Machine Translation by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
TABLE 41: Europe 7-Year Perspective for Machine Translation by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2024 & 2030
TABLE 42: Europe Recent Past, Current & Future Analysis for Machine Translation by Type - SMT, RBMT and Other Types - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 43: Europe 7-Year Perspective for Machine Translation by Type - Percentage Breakdown of Value Sales for SMT, RBMT and Other Types for the Years 2024 & 2030
FRANCE
Machine Translation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
TABLE 44: France Recent Past, Current & Future Analysis for Machine Translation by End-Use - Military & Defense, Information Technology, Electronics, Automotive, Healthcare and Other End-Uses - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 45: France 7-Year Perspective for Machine Translation by End-Use - Percentage Breakdown of Value Sales for Military & Defense, Information Technology, Electronics, Automotive, Healthcare and Other End-Uses for the Years 2024 & 2030
TABLE 46: France Recent Past, Current & Future Analysis for Machine Translation by Type - SMT, RBMT and Other Types - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 47: France 7-Year Perspective for Machine Translation by Type - Percentage Breakdown of Value Sales for SMT, RBMT and Other Types for the Years 2024 & 2030
GERMANY
Machine Translation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
TABLE 48: Germany Recent Past, Current & Future Analysis for Machine Translation by End-Use - Military & Defense, Information Technology, Electronics, Automotive, Healthcare and Other End-Uses - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 49: Germany 7-Year Perspective for Machine Translation by End-Use - Percentage Breakdown of Value Sales for Military & Defense, Information Technology, Electronics, Automotive, Healthcare and Other End-Uses for the Years 2024 & 2030
TABLE 50: Germany Recent Past, Current & Future Analysis for Machine Translation by Type - SMT, RBMT and Other Types - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 51: Germany 7-Year Perspective for Machine Translation by Type - Percentage Breakdown of Value Sales for SMT, RBMT and Other Types for the Years 2024 & 2030
ITALY
TABLE 52: Italy Recent Past, Current & Future Analysis for Machine Translation by End-Use - Military & Defense, Information Technology, Electronics, Automotive, Healthcare and Other End-Uses - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 53: Italy 7-Year Perspective for Machine Translation by End-Use - Percentage Breakdown of Value Sales for Military & Defense, Information Technology, Electronics, Automotive, Healthcare and Other End-Uses for the Years 2024 & 2030
TABLE 54: Italy Recent Past, Current & Future Analysis for Machine Translation by Type - SMT, RBMT and Other Types - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 55: Italy 7-Year Perspective for Machine Translation by Type - Percentage Breakdown of Value Sales for SMT, RBMT and Other Types for the Years 2024 & 2030
UNITED KINGDOM
Machine Translation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
TABLE 56: UK Recent Past, Current & Future Analysis for Machine Translation by End-Use - Military & Defense, Information Technology, Electronics, Automotive, Healthcare and Other End-Uses - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 57: UK 7-Year Perspective for Machine Translation by End-Use - Percentage Breakdown of Value Sales for Military & Defense, Information Technology, Electronics, Automotive, Healthcare and Other End-Uses for the Years 2024 & 2030
TABLE 58: UK Recent Past, Current & Future Analysis for Machine Translation by Type - SMT, RBMT and Other Types - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 59: UK 7-Year Perspective for Machine Translation by Type - Percentage Breakdown of Value Sales for SMT, RBMT and Other Types for the Years 2024 & 2030
REST OF EUROPE
TABLE 60: Rest of Europe Recent Past, Current & Future Analysis for Machine Translation by End-Use - Military & Defense, Information Technology, Electronics, Automotive, Healthcare and Other End-Uses - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 61: Rest of Europe 7-Year Perspective for Machine Translation by End-Use - Percentage Breakdown of Value Sales for Military & Defense, Information Technology, Electronics, Automotive, Healthcare and Other End-Uses for the Years 2024 & 2030
TABLE 62: Rest of Europe Recent Past, Current & Future Analysis for Machine Translation by Type - SMT, RBMT and Other Types - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 63: Rest of Europe 7-Year Perspective for Machine Translation by Type - Percentage Breakdown of Value Sales for SMT, RBMT and Other Types for the Years 2024 & 2030
ASIA-PACIFIC
Machine Translation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
TABLE 64: Asia-Pacific Recent Past, Current & Future Analysis for Machine Translation by End-Use - Military & Defense, Information Technology, Electronics, Automotive, Healthcare and Other End-Uses - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 65: Asia-Pacific 7-Year Perspective for Machine Translation by End-Use - Percentage Breakdown of Value Sales for Military & Defense, Information Technology, Electronics, Automotive, Healthcare and Other End-Uses for the Years 2024 & 2030
TABLE 66: Asia-Pacific Recent Past, Current & Future Analysis for Machine Translation by Type - SMT, RBMT and Other Types - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 67: Asia-Pacific 7-Year Perspective for Machine Translation by Type - Percentage Breakdown of Value Sales for SMT, RBMT and Other Types for the Years 2024 & 2030
REST OF WORLD
TABLE 68: Rest of World Recent Past, Current & Future Analysis for Machine Translation by End-Use - Military & Defense, Information Technology, Electronics, Automotive, Healthcare and Other End-Uses - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 69: Rest of World 7-Year Perspective for Machine Translation by End-Use - Percentage Breakdown of Value Sales for Military & Defense, Information Technology, Electronics, Automotive, Healthcare and Other End-Uses for the Years 2024 & 2030
TABLE 70: Rest of World Recent Past, Current & Future Analysis for Machine Translation by Type - SMT, RBMT and Other Types - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
TABLE 71: Rest of World 7-Year Perspective for Machine Translation by Type - Percentage Breakdown of Value Sales for SMT, RBMT and Other Types for the Years 2024 & 2030
IV. COMPETITION

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook
Cookie Settings